United Industrial Corporation to Delist from The New York Stock Exchange
11 Dezember 2007 - 10:15PM
PR Newswire (US)
HUNT VALLEY, Md., Dec. 11 /PRNewswire-FirstCall/ -- United
Industrial Corporation ("UIC") announced today its intention to
delist its common stock, par value $1.00, from The New York Stock
Exchange, LLC ("NYSE"). UIC has decided to delist its common stock
to expedite the completion of Textron's acquisition of UIC through
the merger of a wholly owned subsidiary of Textron with and into
UIC and because UIC believes that numerous trades in UIC's common
stock have failed to settle for extended periods of time,
demonstrating that the market in UIC's common stock is inefficient.
UIC has provided written notice to the NYSE of its intention to
delist its common stock, and expects to file with the Securities
and Exchange Commission, on or about December 21, 2007, a Form 25
to effect the delisting, unless the merger has been completed
before then. The delisting of UIC's common stock will be effective
on the tenth day after this filing, which is expected to be
December 31, 2007. UIC reserves the right to delay or withdraw at
any time its request for delisting of its common stock from the
NYSE. UIC has not arranged for the listing or quotation of its
common stock on another securities exchange or quotation medium.
UIC expects that, if not already completed, the merger will be
completed promptly after the delisting of UIC's common stock
becomes effective. After delisting and until the merger is
completed, UIC's common stock may trade on the over-the-counter
(OTC) market in the United States. United Industrial Corporation
designs, produces, and supports aerospace and defense systems
through its wholly owned subsidiary, AAI Corporation, and AAI
Corporation's direct and indirect wholly owned subsidiaries, AAI
Services Corporation, Aerosonde Pty Ltd, Aerosonde North America
Incorporated, ESL Defence Limited, McTurbine Inc., and Symtx, Inc.
Its high-technology products and services include unmanned aircraft
systems, training and simulation systems, automated aerospace test
and maintenance equipment, armament systems, aviation ground
support equipment, logistical and engineering services, and
maintenance, repair and overhaul activities. For more information,
visit http://www.unitedindustrial.com/ and http://www.aaicorp.com/.
Except for the historical information contained herein, information
set forth in this news release contains forward-looking statements
within the meaning of the Private Securities Litigation Reform Act
of 1995. Words such as "anticipates," "believes," "estimates,"
"expects," "intends," "pending," "plans," and variations of such
words and similar expressions that indicate future events and
trends are intended to identify such forward-looking statements,
which include, but are not limited to, statements regarding UIC's
plans to delist from the NYSE, the pending merger of UIC with a
subsidiary of Textron Inc. and the timing thereof. These
forward-looking statements are subject to inherent risks and
uncertainties which could cause actual results to differ materially
from those expressed or implied in such statements. UIC makes no
commitment to update any forward-looking statement or to disclose
any facts, events, or circumstances after the date hereof that may
affect the accuracy of any forward-looking statement. For
additional information about UIC and its various risk factors,
please see UIC's most recent Annual Report on Form 10-K and other
documents as filed with the Securities and Exchange Commission.
DATASOURCE: United Industrial Corporation CONTACT: IR Contact:
Stuart F. Gray of United Industrial Corporation, +1-410-628-8686,
Web site: http://www.unitedindustrial.com/ http://www.aaicorp.com/.
Company News On-Call: http://www.prnewswire.com/comp/113559.html
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